COVID-19 Statement from ABI Multifamily

As we all navigate these unprecedented and challenging times, we want you to know that we are working hard to maintain effective business operations and open channels of communication with all of our clients. Fortunately, we utilize and rely on technology as the backbone of operations for ABI. Our digital systems and virtual communications capabilities have allowed us to seamlessly and efficiently transition to a mostly remote working model. We are operating with our full capabilities and continue to provide the responsive and timely feedback we are known for.

Our team remains fully committed to providing our expertise in brokerage and advisory services, and serving as a resource for all relevant data and information. We will continue to help multifamily stakeholders make sound decisions in real-time, maintain maximum performance of their investment assets, and synthesize immediate, short, and long-term goals throughout this highly unusual time.

Quite simply - WE ARE HERE FOR YOU - in the best of times and the worst of times. Our seasoned advisors have been through it all. In our business, rents and occupancy are the pillars to stability. We are tracking both and can help you stay ahead of the changes in your submarkets.

It is time to think and act fast so reach out to one of our brokers over the phone or email. At the very least, you will enjoy a good conversation during these socially distant moments. We are all in this together. Here’s to strong health and rapid resolutions to the variety of challenges we collectively face. More power to all of you!

- The Team at ABI Multifamily

Press Release | ABI Brokers $2.8M Apartment Sale in Phoenix's South Arcadia Neighborhood

ABI Press Releases, apartment sale, Arizona, East Phoenix submarket, multifamily investment, Phoenix Metro, Ryan Smith, South Arcadia neighborhood, Tahiti Palms

Tahiti Palms | 2940 North 40th Street, Phoenix, AZ 85018 | 27 Units | Completed in 1963 | Renovated in 2012 | $2,815,000 | $104,259 Per Unit | $123.74 Per SF Tahiti Palms | 2940 North 40th Street, Phoenix, AZ 85018 | 27 Units | Completed in 1963 | Renovated in 2012 | $2,815,000 | $104,259 Per Unit | $123.74 Per SF

PRESS RELEASE
FOR IMMEDIATE RELEASE

Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com

ABI Brokers $2.8M Apartment Sale in Phoenix's South Arcadia Neighborhood


Phoenix, AZ – November 30, 2017 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $2,815,000 / $104,259 Per Unit sale of the Tahiti Palms Apartments located in Phoenix, AZ. The property is a one-story, garden-style apartment community built in 1963 of masonry construction with pitched roofs and rests on 1.89 acres. The property boasts an attractive unit mix of 10 – 1 bedroom, 2 – 2 bedroom/1.5 bath, 14 – 2 bedroom/2 bath, and 1 – 3 bedroom unit types with a weighted average size of 843 square feet. Each unit is individually metered for electricity and 12 of the 27 units include in-suite washer and dryers.

Located at 40th Street and Thomas Road, Tahiti Palms is a quiet, friendly community in close proximity to Phoenix's Camelback Corridor, which combines quality office space with trending restaurants and high-end retail establishments and offers plenty of opportunity for work and play. Along with convenient access to Route 51 and Sky Harbor Airport, this property's location is on track for continued growth and revitalization.

"The Seller made select exterior improvements proving the validity of a full value add strategy for the property," states Ryan Smith, Vice Presidents at ABI, who represented the Seller and Buyer in the transaction. "The Buyer saw the value in the very unique layout and footprint of the property, as well as, the Arcadia submarket location. The Buyer intends to reposition the property to compete with the on-going demand for more affordable B class housing."

The Buyer is a private investment company based in California.

The Seller is a private owner based in California.

The multifamily brokerage team of Ryan Smith, John Kobierowski, Rue Bax, Alon Shnitzer, Eddie Chang, and Doug Lazovick represented both the Buyer and Seller in this transaction.

ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.